8837 Burnet Ave
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8837 Burnet Ave
12 Unit Block of Flats £5,072,607 (£422,717/Unit) 5.18% Net Initial Yield North Hills, CA 91343
Investment Highlights
- Build in 2024
- Good quality two-story apartment building above on-grade garage.
- 12 units of 3BD, 2.5BA with unit size is approximately 1420sf.
Executive Summary
New build 12 units multifamily close to nearby shopping centers and major employers. Good quality two-story apartment building above on-grade garage parking. 12 units of 3BD, 2.5BA with unit size is approximately 1420sf. With approximately 17040sf to net rentable area. Currently vacant.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£366,284
|
£21.50
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£10,988
|
£0.64
|
| Effective Gross Income |
£355,296
|
£20.85
|
| Taxes |
£55,658
|
£3.27
|
| Operating Expenses |
£36,990
|
£2.17
|
| Total Expenses |
£92,649
|
£5.44
|
| Net Operating Income |
£262,647
|
£15.41
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £366,284 |
| Annual Per SF | £21.50 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | £10,988 |
| Annual Per SF | £0.64 |
| Effective Gross Income | |
|---|---|
| Annual | £355,296 |
| Annual Per SF | £20.85 |
| Taxes | |
|---|---|
| Annual | £55,658 |
| Annual Per SF | £3.27 |
| Operating Expenses | |
|---|---|
| Annual | £36,990 |
| Annual Per SF | £2.17 |
| Total Expenses | |
|---|---|
| Annual | £92,649 |
| Annual Per SF | £5.44 |
| Net Operating Income | |
|---|---|
| Annual | £262,647 |
| Annual Per SF | £15.41 |
Property Facts
| Price | £5,072,607 | Apartment Style | Low Rise |
| Price Per Unit | £422,717 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.32 AC |
| Net Initial Yield | 5.18% | Building Size | 17,040 SF |
| No. Units | 12 | Number of Floors | 3 |
| Property Type | Residential | Year Built | 2024 |
| Property Subtype | Apartment |
| Price | £5,072,607 |
| Price Per Unit | £422,717 |
| Sale Type | Investment |
| Net Initial Yield | 5.18% |
| No. Units | 12 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.32 AC |
| Building Size | 17,040 SF |
| Number of Floors | 3 |
| Year Built | 2024 |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 3+2.5 | 10 | £1,934 | 1,420 |
| 3+3 | 2 | £2,666 | 1,420 |
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PROPERTY TAXES
| Parcel Number | 2654-008-024 | Total Assessment | £1,153,342 |
| Land Assessment | £1,153,342 | Annual Taxes | £55,658 (£3.27/sf) |
| Improvements Assessment | £0 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
2654-008-024
Land Assessment
£1,153,342
Improvements Assessment
£0
Total Assessment
£1,153,342
Annual Taxes
£55,658 (£3.27/sf)
Tax Year
2024
zoning
| Zoning Code | LARD1.5 |
| LARD1.5 |
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8837 Burnet Ave
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